Tensile and impact test samples of ultra‐high molecular weight polyethylene (UHMWPE), high‐density polyethylene (HDPE), and their blends at various UHMWPE/HDPE weight ratios were prepared via compression molding and injection molding for thermal, rheological, and mechanical characterization. A twin‐screw extruder with either a tapered die with air‐cooling or a regular die was used to compound and extrude the materials prior to pelletization and molding. To the best of our knowledge, there has been no publication on pelletizing neat UHMWPE using a regular extruder. The differential scanning calorimetry analysis suggested the occurrence of re‐crystallization and co‐crystallization for all the blends. The rheology test confirmed that all the blends exhibited a solid‐like behavior and the degree of compatibility increased with increasing HDPE content in the blends. A strong synergistic effect was observed the blends possessed a higher tensile and impact strength than their neat UHMWPE and HDPE counterparts. The compression molded (95/5) UHMWPE/HDPE samples extruded using the tapered die yielded the highest tensile strength (50.1 MPa), which was about 40% higher than that of the neat UHMWPE samples. The best composition of these blends for compression and injection molded parts is 10% HD and 50% HD, respectively.